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Kinder’s $1 Billion Texas Crisis Gain Foreshadows More Windfalls

  • Profit-and-loss tally from deadly Texas storm begins to emerge
  • Storm profits, losses to be disclosed amid earnings reports
A warning sign for a petroleum pipeline stands in front of Kinder Morgan Inc. signage displayed at the company's facility in Richmond, California.
Photographer: David Paul Morris/Bloomberg

It’s more than two months after the deadly winter storm that paralyzed Texas, but it’s only now that some of the largest financial winners and losers are emerging.

Kinder Morgan Inc. shocked many in the energy industry when it reported a $1 billion dollar gain late Wednesday due to wildly profitable gas sales during the freeze. The earnings report caught analysts off guard and raises the prospect of more surprises to come in the latest round of quarterly earnings.